Franco-Nevada Corporation $FNV Stake Lifted by Addenda Capital Inc.

Key Points

• Addenda Capital Inc. significantly increased its stake in Franco-Nevada Corporation by 1,783.3% during the second quarter, now owning 123,284 shares valued at approximately $20.2 million.
• Franco-Nevada reported $1.24 EPS for the latest quarter, exceeding expectations and marking a 42% increase in year-over-year revenue.
• The company recently declared a quarterly dividend of $0.38 per share, with a current dividend yield of 0.7% and a payout ratio of 37.35%.

Addenda Capital Inc. raised its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 1,783.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,284 shares of the basic materials company's stock after buying an additional 116,738 shares during the period. Addenda Capital Inc. owned about 0.06% of Franco-Nevada worth $20,209,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FNV. CX Institutional purchased a new stake in shares of Franco-Nevada in the 1st quarter valued at approximately $30,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Franco-Nevada in the 1st quarter valued at approximately $32,000. Golden State Wealth Management LLC lifted its position in Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after buying an additional 115 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock worth $36,000 after buying an additional 188 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of Franco-Nevada during the 1st quarter valued at $55,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FNV shares. Zacks Research lowered shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. HC Wainwright raised their price target on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. TD Securities raised their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Franco-Nevada has a consensus rating of "Moderate Buy" and a consensus target price of $187.63.

Franco-Nevada Price Performance

NYSE:FNV opened at $217.45 on Friday. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $218.58. The company has a market cap of $41.90 billion, a P/E ratio of 53.43, a P/E/G ratio of 2.85 and a beta of 0.41. The firm's fifty day moving average price is $184.13 and its two-hundred day moving average price is $170.30.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. During the same period in the prior year, the company posted $0.75 earnings per share. Franco-Nevada's revenue was up 42.0% compared to the same quarter last year. As a group, equities research analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, September 11th. Franco-Nevada's dividend payout ratio is presently 37.35%.

Franco-Nevada Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.

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